Home Insurance in Loraine, Texas
Homes in Loraine carry a median value of $60,500 - 29% lower than the Mitchell County median.
The typical home in Loraine was built around 1959. Older homes can cost more to insure or rebuild because of aging wiring, roofing and plumbing. About 53% of homes were built before 1960, about 4 points above Mitchell County's 49%.
Mobile and manufactured homes typically need a manufactured-home (HO-7) policy rather than a standard homeowners policy. The housing stock in Loraine is 78% single-family homes, 4% apartments in buildings with 5+ units and 5% mobile or manufactured homes. The rest are 2-4 unit or other housing types.
About 33% of owner-occupied homes in Loraine have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
About 72% of occupied homes in Loraine are owner-occupied. The vacancy rate is 26%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. In Loraine, 46% of homes are primarily heated with electricity.
What's the biggest home insurance risk near Loraine? FEMA's National Risk Index points to wildfire (Relatively Low) in Mitchell County and Mitchell County had 2 active NFIP flood policies as of September 2026. See the full Mitchell County home insurance overview for all FEMA hazard ratings and flood coverage details.
The statewide average premium for a standard HO-3 homeowners policy in Texas is $2,864 per year, according to the NAIC homeowners insurance report (2023 data).
Key figures
| Median home value | $60,500 |
|---|---|
| Median year built | 1959 |
| Owner-occupied share | 72% |
| Share of owner-occupied homes with a mortgage | 33% |
| Top county hazard | Wildfire (Relatively Low) |
| Active NFIP policies in Mitchell County | 2 |
| Home insurance premium | $2,864 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)